Andhra Pradesh Grameena Vikas Bank (APGVB) has opened about 1.5 lakh no-frills accounts in eight districts on a single day as part of Direct Benefit Transfer (DBT) initiative.
The 638 branches together opened 72,122 accounts while the bank’s financial inclusion machinery under branch-less banking business correspondents model opened 75,320 no-frills accounts at 64 villages in Warangal district.
These accounts, opened with zero balance and seeded with Aadhar Cards, will be uploaded on NPCI Mapper along with other banks to join Aadhar Payment Bridge to facilitate electronic fund transfer like subsidies, scholarships etc., from the government departments concerned.
“The beneficiaries can withdraw the amount either at our branches or SBI group ATMs or through branch-less banking business correspondent agents (BCAs). Our bank started issuing RuPay ATM Debit Cards and has already in place BCAs,’’ APGVB said in a release on Friday.
naga.gunturi@thehindu.co.in